The Supreme Court today set up an expert committee to examine issues arising out of US shortseller Hindenburg’s report on the Adani Group.
The committee, headed by retired judge Abhay Manohar Sapre, will include veteran bankers KV Kamath and OP Bhat, Infosys co-founder Nandan Nilekani, OP Bh at and retired Justice JP Devdhar.
The Adani Group welcomes the order of the Hon’ble Supreme Court. It will bring finality in a time bound manner. Truth will prevail.
— Gautam Adani (@gautam_adani) March 2, 2023
Chief Justice of India DY Chandrachud said market regulator SEBI should complete its ongoing investigation in two months and file a status report.
The committee of experts will suggest measures to strengthen frameworks, investigate the Adani row and suggest measures to strengthen the statutory framework.
The Supreme Court was hearing petitions asking for regulatory mechanisms to protect investors.
The Supreme Court also directed SEBI to investigate whether there had been a violation of rules and whether there was any manipulation of stock prices.
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